Parents Spending More On Kids This Summer
Jim LiebeltJim Liebelt's Blog
- 2014 Jul 15
The cost of keeping the kids amused this summer is going up: A new study from American Express finds that parents are spending $958 per child this school vacation, up 12% from last year, and up 59% from 2012.
Day trips remain the most popular activity for families, with 77% of those with kids under 18 planning at least one such outing, an 8% increase from last year. (They intend to spend an average of $292 on these adventures.) And 48% have kids participating on sports teams, a 9% increase. (That costs an average of $187.)
About 41% have ponied up for either a pool or club membership, up 14%. (That one costs $132.) Some 37% have enrolled their kids in an education or arts program. And there’s always camp, either day camp (used by 34% of participants) or sleep-away (chosen by 25%). Those cost an average of $273 and $234, respectively.
And while 98% of the survey, based on an online sample of 1,253 adults, say they are assigning kids chores this summer, fewer parents of teens expect them to pursue a summer job (30% vs. 35% in 2013).